v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
ASSETS    
Cash and due from banks $ 6,329 $ 5,828
Short-term investments 92,333 151,789
Total cash and cash equivalents 98,662 157,617
Interest-bearing time deposits 0 100
Investments in available-for-sale securities, at fair value 20,038 6,564
Investments in held-to-maturity securities, at amortized cost (fair values of $62,547 at June 30, 2025 and $67,505 at December 31, 2024) 66,845 73,215
Loans held-for-sale 1,504 0
Loans, net of allowance for credit losses of $9,886 at June 30, 2025 and $8,884 at December 31, 2024 1,281,741 1,136,449
Federal Home Loan Bank stock, at cost 11,302 10,000
Premises and equipment, net 3,430 3,512
Accrued interest receivable 4,775 4,015
Deferred tax asset, net 5,511 4,914
Bank-owned life insurance 15,178 14,945
Other assets 6,028 6,822
Total assets 1,515,014 1,418,153
LIABILITIES AND SHAREHOLDERS' EQUITY    
Noninterest-bearing 87,862 84,958
Interest-bearing 979,576 913,575
Total deposits 1,067,438 998,533
Federal Home Loan Bank advances 264,815 234,000
Other liabilities 14,484 17,352
Total liabilities 1,346,737 1,249,885
Shareholders' Equity:    
Preferred Stock, par value $0.01; Authorized: 1,000,000 shares; Issued and outstanding: 0 shares 0 0
Common Stock, par value $0.01; Authorized: 30,000,000 shares; Issued and outstanding: 8,946,958 shares and 9,095,833 shares at June 30, 2025 and December 31, 2024, respectively 89 91
Additional paid-in capital 84,755 86,189
Retained earnings 90,582 87,845
Accumulated other comprehensive (loss) income (1,092) 382
Unallocated common shares held by the Employee Stock Ownership Plan (6,057) (6,239)
Total shareholders' equity 168,277 168,268
Total liabilities and shareholders' equity $ 1,515,014 $ 1,418,153